International Whistleblower Rewards are being offered to International Whistleblowers that expose international bribery schemes, illegal kickbacks, and government corruption. Under the Foreign Corrupt Practices Act and the new SEC Whistleblower Incentive Program, whistleblowers with original and specialized knowledge and evidence of corporate bribery and illegal kickbacks are eligible to recover large economic awards.

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Saturday, February 8, 2014

The SEC Is Offering Large Rewards To International Whistleblowers That Can Properly Expose Medical Device Bribes, Medical Equipment Bribes, and Pharmaceutical Bribes to Physicians by International Whistleblower Lawyer Jason S. Coomer

International whistleblowers can recover large amounts of money for exposing international pharmaceutical and medical device bribes. By exposing procurement kickbacks, medicine supply chain bribes, and other violations of the Foreign Corrupt Practices Act, a physician or other whistleblower can not only help expose corruption, but can receive a large reward. As such, pharmaceutical representatives, international drug executives, government officials, physicians, health care providers, community activists, and other persons, who are the original source of
specialized knowledge of international drug company bribes, international pharmaceutical company illegal kickback schemes, medical device and equipment procurement bribery schemes, and other illicit payments for drug procurement, medical device procurement, and medical equipment contracts.

An SEC investigation found that Stryker Corporation’s subsidiaries in Argentina, Greece, Mexico, Poland, and Romania made illicit payments totaling approximately $2.2 million that were incorrectly described as legitimate expenses in the company’s books and records. Descriptions varied from a charitable donation to consulting and service contracts, travel expenses, and commissions. Stryker made approximately $7.5 million in illicit profits as a result of the improper payments.

Stryker has agreed to pay more than $13.2 million to settle the SEC’s charges.

The SEC alleges that, since at least 1998, J&J’s subsidiaries paid bribes to public doctors in Greece who selected J&J surgical implants, paid bribes to public doctors and hospital administrators in
Poland who awarded tenders to J&J, and paid bribes to public doctors in Romania to prescribe J&J pharmaceutical products. J&J also paid kickbacks to Iraq in order to obtain contracts under the United Nations Oil for Food Program (“Program”).

J&J has agreed to pay more than $48.6 million in disgorgement and prejudgment interest to settle the SEC’s charges and to pay a $21.4 million fine to the U.S. Department of Justice to settle criminal
charges. A resolution of a related investigation by the United Kingdom Serious Fraud Office is anticipated.

The SEC’s complaint alleges that J&J subsidiaries, employees, and agents paid bribes to public doctors and administrators in Greece, Poland, and Romania. Doctors who ordered or prescribed J&J products were rewarded in a variety of ways, including cash and inappropriate travel. A variety of schemes were used to carry-out the bribery, including the use of slush funds, sham civil contracts with doctors, and off-shore companies in the Isle of Man. A J&J executive was involved in the Greek conduct, and MD&D Poland executives running three business lines oversaw the creation of sham contracts, travel documents, and the creation of slush funds in Poland. The SEC’s complaint also alleges that J&J’s agent paid secret kickbacks to Iraq to obtain nineteen Oil for Food contracts.